Bybit Says Security Upgrades Stopped $700M in Potential Crypto Losses

TL;DR:

• Bybit reported the neutralization of incidents and potential losses estimated at $700 million through the restructuring of its internal defense systems.
• The platform implemented modifications to its signing processes following the February 2025 attack, in which 401,000 ETH (equivalent to $1.5 billion) were stolen.
• The official technical investigation confirmed that the original exploit stemmed from a breach in the user interface of a third-party multisig wallet provider, rather than the exchange’s core infrastructure.

This Tuesday, Bybit reported that its recent infrastructure upgrades prevented over $700 million in potential losses. The measure comes in response to mitigation protocols implemented after the $1.5 billion cyberattack recorded in early 2025.

The company completed a comprehensive audit of its institutional custody systems. According to the entity’s technical report, the new real-time transaction validation tools enabled the interception of multiple operational anomalies before they could compromise the corporate balance sheet.

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